AVX now owns TS&C business of TT Electronics

AVX has completed the acquisition of the Transportation, Sensing and Control (TS&C) division of UK-based TT Electronics, PLC.

The purchase - valued at GBP 118.8 million (USD 156 million) - comprises TS&C’s manufacturing subsidiaries located in Austria, China, Germany, India, Mexico, Romania, South Korea, the UK and the USA, including R&D, manufacturing and sales office locations. In the financial year ended December 31, 2016, the TS&C Business generated GBP 237.4 million (USD 300 million) of revenue.

John Sarvis, AVX’s Chief Executive Officer and President, said, “The purchase of the TS&C division from TT Electronics enhances our position in the automotive business and provides further opportunities for expansion. We have been carefully planning for the integration of the TS&C business with AVX and are confident that the combination presents a great opportunity for further growth."